Hospital Beds Market Size, Share, Growth Analysis, By Type(Electric Medical Beds, Semi-Electric Medical Beds, Manual Medical Beds), By Usage(Acute Care, Maternity, Others), By Application(Non-Intensive Care, Intensive Care), By End User(Hospitals, Homecare, Others), By Region - Industry Forecast 2024-2031

Hospital Beds Market size was valued at USD 4.0 billion in 2022 and is poised to grow from USD 4.28 billion in 2023 to USD 7.29 billion by 2031, growing at a CAGR of 6.90% during the forecast period (2024-2031).

The hospital beds industry will continue to flourish in coming years, as major market players are putting huge amount of money into R&D for developing an advanced product portfolio. Market participants are also implementing several strategic activities with an aim to expand their market. Companies are focusing into new product launches, contract deals, mergers & acquisitions, as well as partnerships with other organizations. The companies competing in the market need to deliver inexpensive options to continue to grow and thrive in an ever-growing competitive field. Many companies in the market is also emphasizing on manufacturing beds locally to reduce operational expenses.  'Thermo Fisher Scientific, Inc. (US) ', 'QIAGEN (Germany) ', 'NanoString Technologies, Inc. (US) ', 'Merck KGaA (Germany) ', 'Takara Bio, Inc. (Japan) ', 'BioGenex (US) ', 'GeneCopoeia, Inc. (US) ', 'New England Biolabs (US) ', 'Narang Medical Limited (India) ', 'Amico Corporation (Canada) ', 'Getinge AB (Sweden) ', 'K care Healthcare (Australia) ', 'Ascom Holding AG (Switzerland) ', 'Hopital du Valais (Switzerland) ', 'MediWales (UK) ', 'Rovamed (France) ', 'Sidhil Ltd. (UK) ', 'Famed Zywiec (Poland) ', 'AFC Industries, Inc. (US) ', 'Durable Medical Equipment Co. (US) ', 'Med-Mizer, Inc. (US) ', 'Ruder Medical (US)'

Development of infrastructure in medical ecosystem further supports the hospital beds market growth. Growing investments in infrastructure will also increase expenditure for medical beds in hospitals, playing a crucial role as growth parameter fuelling market expansion. The increase in healthcare sector is primarily stimulated by widespread policy reform, economic liberalization, rapidly rising middle-class demographic with expanding purchasing power, and increased investment in infrastructural development. 

Increasing Insurance Coverage: Healthcare reforms focused on universal health coverage and access to the services are creating a positive hospital beds market outlook for large hospitals, which in turn gives future prospective for growth of the market. Accordingly, several countries are implementing reforms to make healthcare accessible to a larger population, further driving the market growth. Moreover, increasing penetration of reforms resulting in a rise in preventive care and early diagnosis is amplifying the demand for bed treatment associated with shorter stays and outpatient care, which is further driving market growth. 

North America is dominating the market with the largest hospital beds market share. This rapid growth in the market due to huge number of hospitals and healthcare facilities in countries such as U.S. The United States has the highest health care expenditure in the world, and its medical system is one that depends on modern medical instruments and devices that greatly rely on technology. This means a significant supply chain demand for hospital beds to provide patient bed required throughout various settings of care. Furthermore, the region has a dominant position in the hospital bed manufacturing market due to the presence of leading global manufacturers of hospital beds.